Segment disclosures

Our Viewpoint on segment disclosures summarizes the segment disclosure requirements in ASC 280, as updated for the new disclosure requirements under the amendments in ASU 2023-07, which expand upon the disclosures required for reportable segments made by public entities.

The amendments in ASU 2023-07 require public entities to disclose significant expenses for reportable segments in both interim and annual reporting periods, as well as items that were previously disclosed only annually on an interim basis, including disclosures related to a reportable segment’s profit or loss. What’s more, public entities with a single reportable segment are now required to provide all segment disclosures under ASC 280, including the new disclosures for reportable segments under the amendments in ASU 2023-07.

The amendments in ASU 2023-07 are effective for annual periods for all public entities in fiscal years beginning after December 15, 2023 and in interim periods within fiscal years beginning after December 15, 2024; early adoption is permitted.

Download our publication to read more about the changes required for segment disclosures.